Completed Mergers & Acquisitions (M&A) Deals

The Natrium Team includes some of the most experienced global leaders in our serviced sectors, and the UK Team alone has, between them, facilitated over US$100bn of M&A transactions.

All ChemicalsMaterialsSpecialty/Fine ChemicalsChemical DistributionPaints/AdhesivesPersonal CareFood IngredientsSustainable TechBiotech

Adenia – Uhuru

Deal Size: Undisclosed

Natrium Capital Limited is delighted to announce it has advised WACH HOLDING LTD, owned jointly by Adenia Partners and Founding Directors Abhay Salunkhe & Pradnya Salunkhe, on the sale of their shares in Cresta Paints to Uhuru Investment Partners

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Nanocyl – Birla

Deal Size: Undisclosed

Natrium Capital Limited is delighted to announce it has advised Nanocyl SA (“Nanocyl”) on the sale of the business to Birla Carbon USA, Inc (“Birla Carbon”). Natrium Capital acted as sole financial advisor to Nanocyl.

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Connell – Caldic

Deal Size: Combined sales c EUR 3bn

Natrium Capital Limited is delighted to announce that it co-advised Wilbur-Ellis on the merger of Connell and Caldic.

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Solvay – OpenGate

Deal Size: Undisclosed

Natrium Capital Limited is pleased to announce it has advised Solvay on the sale of its North American and European amphoteric surfactant business to OpenGate Capital.

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GIL Investments – Eti Bakir

Deal Size: Undisclosed

Natrium Capital Limited is pleased to announce it has advised GIL Investments Limited on the sale of its investee company Iconichem Group Limited to the ultimate shareholders of Eti Bakir A.S.

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Domo – Solvay

Deal Size: €300m

Natrium Capital Limited is pleased to announce it has advised DOMO Chemicals, who has recently signed an agreement to acquire Solvay’s Performance Polyamides Business in Europe.

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H.I.G. – Covestro

Deal Size: Undisclosed

Natrium Capital Limited is pleased to announce it has advised H.I.G. Capital (‘H.I.G.’) on its recent acquisition of Covestro’s Polyurethane Systems business.

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Elementis – One Rock

Deal Size: $360m

Natrium Capital Limited is pleased to announce it has advised Elementis on its recently announced acquisition of One Rock’s SummitReheis personal care business, for an enterprise value of about US$360 million.

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Elementis – KOLB

Deal Size: €39m

Natrium Capital Limited is pleased to announce it has advised Elementis plc on the sale of its Surfactants business located in Delden, The Netherlands to Kolb Distribution AG (“Kolb”) for a cash consideration of EUR 39 million, subject to working capital adjustments.

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Blackstone – Solvay

Deal Size: €1bn

Natrium Capital Limited is pleased to announce it has advised Blackstone on its recently announced acquisition of Solvay’s cellulose acetate tow business, for an enterprise value of about €1bn.

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PPG – Nippon Electric Glass

Deal Size: Undisclosed

Natrium Capital Limited is pleased to announce it has advised PPG Industries Inc. (“PPG”) on the sale of its European fiber glass operations to Japanese-based glass manufacturer Nippon Electric Glass Co. Ltd. (“NEG”).

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DGR – Musim Mas

Deal Size: Undisclosed

Natrium Capital Limited is pleased to announce it has advised Dutch Glycerin Refinery B.V. (“DGR”) on its sale to Musim Mas.

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BioMCN – OCI N.V.

Deal Size: €15m

BioMCN, the Dutch methanol producer, has been acquired by OCI N.V. in a deal advised by Natrium Capital Limited.

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PPG – Georgia Gulf

Deal Size: $2.1bn

Natrium Capital advised PPG Industries inc. on the merger of its Chlor-alkali division with Georgia Gulf and the subsequent formation of Axiall corporation.

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Binani Industries – 3B

Deal Size: €275m

Binani Industries Ltd, the public-listed holding company of Braj Binani Group, has acquired Belgium’s fibreglass products and technologies company 3B from US-based private equity firm Platinum Equity for €275 million

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Azelis – S&D

Deal Size: Undisclosed

Azelis, the leading pan-European specialty chemicals distributor, has signed a definitive agreement to acquire S&D Group Limited, a leading specialist supplier of raw materials and ingredients to the pharmaceutical, food, personal care and performance chemicals industries.

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RFCL – Avantor

Deal Size: Undisclosed

Phillipsburg, NJ, March 1, 2011 – AvantorTM Performance Materials Holdings S.A. has completed its acquisition of RFCL Limited from ICICI Venture Funds Management Company Limited.

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Chemtura

Deal Size: Undisclosed

Chemtura Corporation (Pink Sheets: CEMJQ) (the “Company” or “Chemtura”), today announced that it has successfully completed its financial restructuring and emerged from protection under Chapter 11 of the United States Bankruptcy Code.

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Mallinckrodt Baker (USA) – NMC

Deal Size: $280m

Phillipsburg, New Jersey – August 30, 2010 – An affiliate of New Mountain Capital, LLC(“New Mountain”) today announced the completion of its acquisition of Mallinckrodt Baker,Inc. (“MBI” or the “Company”) from Covidien (NYSE: COV) for approximately $280 million.

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Eastman – Genovique

Deal Size: Undisclosed

Eastman Chemical said on Wednesday it will acquire Genovique Specialties in a deal that will increase its footprint in the growing market for specialty plasticisers

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Bain – Dow

Deal Size: $1,630m

Bain Capital Acquisition of Dow Styron for $1,630m

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AkzoNobel – Corn Products

Deal Size: €1.3bn

AkzoNobel has today finalised the $1.3bn sale of its National Starch business to Corn Products International. The transaction was announced on June 21, 2010.

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BASF – Cognis

Deal Size: €3.1bn

BASF successfully completed its acquisition of Cognis Holding GmbH from Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences

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Dow – AkzoNobel

Deal Size: Undisclosed

AkzoNobel has today completed its acquisition of the Dow Chemical Company’s powder coatings activities. The deal was first announced in November last year.

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Chemtura – Artek – Arterian

Deal Size: Undisclosed

Chemtura sale of PVC additives business to Artek Surfin Chemicals and Aterian Investment Partners

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LyondellBasell

Deal Size: $2.8bn

LyondellBasell filed a restructuring plan on Monday, rejecting a takeover bid from India’s Reliance Industries that valued the bankrupt petrochemicals firm at $14.5 billion.

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INEOS Group

Deal Size: Undisclosed

INEOS Group Limited announces that it has successfully reached agreement with its senior lenders on a package of amendments to the Group’s financing arrangements, including a reset of the Company’s financial covenants.

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Fiberweb - PETROPAR

Deal Size: Undisclosed

Fiberweb Plc said it agreed to form a joint venture with Petropar, the parent company of Brazilian spunbond producer Fitesa and Fitesa, to make spunbond nonwoven fabrics

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Vita Group

Deal Size: €95m

Lenders to UK chemicals group British Vita have agreed a debt for equity deal that will see its current owner TPG and lenders inject extra cash into the company, a person close to the company said.

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Dow Chemical – Rohm & Haas

Deal Size: $18.8bn

The Dow Chemical Company today announced that it has completed its acquisition of Rohm and Haas (NYSE: ROH). The acquisition is a major step in Dow’s strategy of growing its performance products and specialty portfolio to deliver more consistent earnings growth.

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PPG – ZaCH

Deal Size: $65m

PPG divested its Pharmaceutical Intermediates Business to Italian Company ZaCH System S.p.A., the fine chemicals subsidiary of Zambon Company S.p.A., Milan for approximately $65m.

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Haldor Topsøe – Saipem

Deal Size: €340m

Saipem sold its 50% interest in Haldor Topsøe for a consideration of €340 million

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Tata – General Chemical

Deal Size: $1bn

Tata Chemicals Limited, part of the TATA group, has entered into definitive agreements to acquire the Soda Ash business of General Chemical Industrial Products Inc., a US based chemical company, for US$ 1,005 million.

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AkzoNobel – ICI

Deal Size: £8bn

Dutch chemicals group Akzo Nobel on Monday said it’s agreed to buy U.K. rival Imperial Chemical Industries for 8 billion pounds ($16.2 billion) in cash after having its two previous offers knocked back.

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PPG – SigmaKalon

Deal Size: €2.2bn

PPG Industries announced that it had completed the acquisition of SigmaKalon Group, a worldwide coatings producer based in Uithoorn, Netherlands, from global private investment firm Bain Capital.

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Rohm & Haas – Mader

Deal Size: Undisclosed

Rohm and Haas Co., a supplier to the specialty materials industry, announced that it will its European Automotive Coatings business, including its manufacturing site in Strullendorf, Germany, to the Mäder Group, a manufacturer of industrial paints and coatings based in Lille, France.

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Novasep – Gilde

Deal Size: €425m

US specialty chemicals maker Rockwood said on Thursday it has agreed to sell its France-based Groupe Novasep subsidiary for €425m ($560m).

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AkzoNobel – Schering-Plough

Deal Size: €11bn

Schering-Plough Corp SGP.N has agreed to buy Akzo Nobel NV's AKZO.AS drugs unit Organon BioSciences for 11 billion euros ($14.4 billion).

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GrowHow – Terra

Deal Size: Undisclosed

Terra Industries Inc. and Kemira GrowHow are pleased to confirm the formation of a joint venture company, GrowHow UK Limited, combining their fertilizer and associated process chemicals businesses in the United Kingdom and the Republic of Ireland.

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Rohm & Haas – Nippon Paint

Deal Size: €239m

Rohm and Haas Company has reached an agreement to sell its global Automotive Coatings business to Nippon Paint Co., Ltd. (NPC). Terms of the sale include approximately $230 million in cash subject to adjustments at closing.

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Tata – Brunner Mond

Deal Size: Undisclosed

Tata Chemicals Ltd, India's leading manufacturer of inorganic chemicals, has signed two separate agreements with UK-based company, Brunnner Mond Group Ltd, for acquiring a majority stake in it.

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Basell – Access

Deal Size: €4.4bn

BASF and Shell Chemicals are to sell their 50-50 joint venture Basell, one of the world’s leading manufacturers of polyolefins, to a consortium led by New York-based Access Industries together with The Chatterjee Group.

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Degussa – Cargill

Deal Size: €540m

Degussa has agreed to sell its food ingredients business to US food and agriculture group Cargill for Euro540m ($670m), the German specialty chemicals company said on Friday.

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DynamitNobel – Rockwood

Deal Size: €2.25 billion

Rockwood Specialties Group Inc. will acquire four businesses of Dy-namit Nobel AG for €2.25 billion ($2.67 billion), creating a new specialty chemicals group with combined sales of $2.5 billion.

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BASF – Honeywell

Deal Size: $90m

BASF has acquired the worldwide Engineering Plastics Business from Honeywell

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BASF – Abbott Laboratories

Deal Size: $6.9bn

BASF has sold its pharmaceutical division to Abbot Laboratories.

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BASF – AHP

Deal Size: $3.8bn

German chemical giant BASF AG (Aktiengesellschaft) has purchased the Cyanamid herbicide division of drug company American Home Products Corp. (AHP), based in Madison, N.J.

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Castrol – BP

Deal Size: $4.7bn

Oil giant BP Amoco agrees to acquire British oil and lubricants maker Burmah Castrol in a 3 billion-pound ($4.7 billion) cash deal.

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Rohm & Haas – BASF

Deal Size: $175m

Rohm & Haas has sold its Industrial Coatings business to BASF. Rohm and Haas acquired Morton Industrial Coatings in June 1999 as part of the larger $4.9 billion acquisition of Morton International

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Rohm & Haas – Morton Intl

Deal Size: $4.9bn

Rohm and Haas, has reached a definitive agreement to acquire Morton International Inc. (Chicago), in a cash and stock deal valued at $4.9 billion, including the assumption of $268 million of net debt

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